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Golden Arrow, Levon Resources and Minco Silver all have at least two things in common: they’re focused on silver and have experienced share price jumps in the last five days.
On Wednesday, Silver Investing News (SIN) looked at five silver companies listed on the NYSE and NYSEMKT that have risen fairly substantially since silver’s price jump on October 14.
The white metal rose from $15.30 to a high of $16.34 that day on the back of US nonfarm employment data, which according to iNVEZZ.com put pressure on the dollar and thus boosted silver’s appeal as a hedge against risk. Since then, the metal has continued to fare well, closing Thursday at $16.27.
With that in mind, SIN is back to look at three silver juniors that are up fairly substantially in the last five days. Without further ado, here they are:
Golden Arrow (TSXV:GRG)
Up 18.42 percent in the last five days, Vancouver-based Golden Arrow was no doubt boosted by a recent press release as well as by last week’s uptick in the silver price.
The company announced on October 18 that it has negotiated memorandums of understanding that will allow it to extend the drill program at its Chinchillas silver project, located in Argentina. Specifically, it plans to issue 1,216,683 common shares of the company in exchange for an additional 6,400 meters of “drilling and drill related support services” valued at $1,679,546.
Speaking about the arrangement, CEO Joseph Grosso said, “[it] allows us to advance Chinchillas to the feasibility stage and to preserve the exceptional leverage of Golden Arrow’s 41 million currently issued shares.”
Watch SIN’s recent video interview with Brian McEwen, Golden Arrow’s vice president of exploration and development, to learn more about the company. It has also recently garnered positive attention from analyst Thomas Schuster and silver guru David Morgan.
Levon Resources (TSX:LVN)
Unlike Golden Arrow, Levon Resources, which has risen 9.62 percent in the last five days, did not put out any news during that time, and seems to have been bumped up solely due to silver’s price increase last week.
However, that’s not to say the company is sitting idle. At the beginning of the month it closed a US$1-million private placement, and overall has been garnering some interest in the silver space. Indeed, Bhakti Pavani, a senior research analyst at Euro Pacific Capital, recently spoke positively to SIN about Levon and its silver-gold–zinc–lead Cordero project, which is one of the world’s largest silver resources.
Minco Silver (TSX:MSV)
Rounding out the list is Minco Silver, which has seen its share price rise a comparatively modest 6.49 percent in the last five days. Like Levon, it didn’t put out any press releases during that time period.
The company is focusing on its Fuwan silver project, located in China, adjacent to Minco Gold’s (TSX:MMM,NYSEMKT:MGH) Changkeng gold property. On its website, Minco Silver emphasizes that the project’s good infrastructure is a key part of its appeal.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Related reading:
Which Silver Companies Have Gained in the Last 5 Days?
Golden Arrow: Advancing the Argentina-based Chinchillas Silver Project
Levon Resources: Leveraging a Strong Cash Position for Silver Success in Mexico
